Welcome to CMI Gold & Silver Review!
CMIGS’ mission is to guide and direct investors into the precious metal that best fits their investment goals while offering the lowest prices available.
Are they able to do so? and if yes, how?
Let's know more about this company in this CMI Gold & Silver Review!
CMI Gold & Silver Quick Summary
CMIGS Summary Review
- Name: CMI Gold & Silver
- Website: www.cmi-gold-silver.com
- Founder: Bill Haynes/ Mike Haynes
- Cash Minimum: Varies
- Rating: 4.4/5.0
What is CMI Gold & Silver
Headquartered in Phoenix, Arizona, CMI Gold & Silver Inc. is one of the oldest gold and silver dealers in the United States and has played a major role in introducing investors to buying gold and silver.
Although domiciled in Phoenix, Arizona, CMIGS buys and sells gold and silver with investors across the United States and serves all the Phoenix metropolitan areas: Scottsdale, Mesa, Chandler, Gilbert, Glendale, Peoria, and Sun City.
Because Arizona is the nation’s largest copper-producing state and the nation’s fifth-largest silver producer, Phoenix is also the home of major mining companies.
In 1973, when silver was only $2.00, CMIGS’ founder, a longtime Phoenix resident with ties to Arizona’s mining interests, recognized the growing uses for silver and the dwindling silver stockpiles would result in higher silver prices. Consequently, CMIGS was launched to sell silver bullion to investors. Silver hit $50 in 1980 and in 2011.
How CMIGS Works?
Step 1: Exploration
Visit the official website of CMI Gold & Silver to peruse their extensive selection of precious metals products. Take your time perusing the options for gold, silver, platinum, and palladium.
Step 2: Selection
Select the precious metals products that correspond to your investment objectives and preferences. The user-friendly interface of CMI makes it simple to make selections.
Step 3: Education
Utilize the CMI-provided educational resources to enhance your knowledge of precious metals investments. Obtain market, trend, and potential benefit insights.
Step 4: Purchase
After making your selections, you may proceed to the purchase process on CMI's secure online platform. Follow the instructions to complete the transaction.
Step 5: Storage and IRA Services (Optional)
If desired, investigate CMI's storage options to protect your precious metals investments. In addition, consider establishing a precious metals IRA with their assistance.
Step 6: Trade-Ins (Optional)
CMI offers you the flexibility to transfer your precious metals as your investment strategy evolves. Adjust your portfolio as necessary to achieve your objectives.
Step 7: Secure Transactions
You can rest assured that all transactions conducted on CMI's platform are safe and secure. Your financial and personal information is handled carefully.
Step 8: Reputation and Trust
Reputation and Trust Profit from CMI's decades-long reputation for market transparency, dependability, and expertise. Know that you are collaborating with a reliable partner.
The CMI Gold & Silver Company's procedure entails investigating their products, making selections, gaining knowledge, purchasing safely, and potentially utilizing additional services such as storage and IRA setup. CMI offers a comprehensive solution for your precious metals investment journey, with a reputation based on trust.
CMIGS Products
Gold
Gold investment coins provide hedges against currency debasement and devaluation. Yet when investors search the Internet for information about gold investments, they often are confused by the many sites that promote numismatic and collector coins, which sell at high premiums to their gold content.
Gold bullion coins, on the other hand, sell at small premiums over the value of their gold content and make the best gold investments. This website attempts to clear up any confusion by offering information on gold, explaining the advantages of bullion gold coin investments over numismatic coins and discussing the attributes that make gold bullion coins the best gold investment.
Gold Coins
Gold coins are the most popular way to invest in physical gold, the second most popular being gold bullion bars. Basically, there are two types of gold coins: bullion coins and numismatic coins.
Gold coins are a great way to grow the worth of your assets without having to be backed by a bank or government and can be sold in nearly every country in the world. Buying gold is also a way to ensure you will have a useable asset that will be in high demand in a time of crisis.
Gold Bars
As investment vehicles, gold bars are gaining in popularity primarily because gold bars carry much lower premiums than gold bullion coins carry.
Gold bars for sale include 1-oz gold bars, 10-oz gold bars, kilo gold bars, and 100-gram gold bars. All these gold bars are .9999 fine (99.99 pure.)
Silver
The silver investment market offers a variety of silver bullion products. This overview provides brief discussions of the advantages and disadvantages of buying the most popular silver bullion and silver coin investments.
Silver Coins
For silver coins to be eligible for IRAs, they must be at least a .999 fine, which means that American Silver Eagles, Silver Maple Leafs, Silver Kangaroos, and Silver Philharmonics are eligible for IRAs. Junk silver coins are not.
Silver Bars
Buying .999 fine silver bars is one of the most popular ways to invest in silver bullion, with 100-oz bars dominating the market. Of the various 100-oz silver bars produced, the Royal Canadian Mints are currently the most popular.
Platinum
Palladium
CMIGS IRA Services
When it comes to IRAs, CMIGS partners with GoldStar Trust Company, a subsidiary, to handle all things IRA-related. To open an IRA account, Start by filling out the necessary forms – you can grab them from the company website or ask for them directly.
And when it comes to the cost, opening an account expense varies based on the assets you're stashing. An annual administrative fee, pegged at 0.08% of your asset value, is the norm. But don't sweat it – there's a minimum of $50 and a cap at $250.
How about the storage? That's covered too. The annual storage fee sits at 0.1% of your stored assets, with a base of $90 per year. Your precious metals investments find a home at the Delaware Depository Services Corporation in Wilmington, Delaware – a trusted COMEX-approved storage spot.
So, if IRAs with precious metal potential are on your radar, CMI's got the process streamlined and the costs clear.
>>>To avoid Gold IRA frauds in the uncontrolled market, Get Your Free Gold IRA Guide Here!
CMIGS Prices and Fees
The value of precious metals is on the rise, making them a sought-after investment. Whether you're buying or selling, it's important to consider factors like supply, demand, price fluctuations, and availability of these metals. At CMI Gold and Silver Inc, you'll find fair market values based on current spot prices. The offered prices may vary based on the product and order size.
When it comes to charges and Fees, here it is:
Annual Storage Fee: The yearly Storage Fee starts at a minimum of $90 or 1% of the portfolio's total fair value, no matter the account's worth. This fee is invoiced in the same month the metals were invested. For instance, if you're storing $1 million, you'd pay an annual fee of $1,000.
Annual Administrative Fee: The yearly Administrative Fee equals 0.08% of the account's assets' market value. While the fee starts at $50, it's capped at $250. So, if your account holds $1 million, the administrative fee won't surpass $250.
Setup and Transaction Fee: Upon account creation, a one-time Setup Fee of $25 is charged. Additionally, every transaction made within the account incurs a $40 fee.
CMI Gold & Silver Ratings and Reviews: Customer reviews offer insights that help others decide. Positive feedback, like first-time gold buying experiences, assures potential buyers of the company's legitimacy. CMI receives ample ratings and reviews from clients, and its credibility is endorsed by reputable websites.
In essence, CMI Gold & Silver ensures clarity in fees and values customer input, fostering a transparent and trustworthy relationship.
Product Delivery
When it comes to delivering valuable merchandise, CMI opts for secure shipment through trusted carriers like USPS or UPS. Using USPS registered mail, buyers gain high confidence in delivery. If a package is lost, CMI assists in USPS investigations for resolution.
CMI takes shipping seriously, choosing cost-effective methods for worldwide shipping. With offices, warehouses, and distribution channels spread across the globe, CMI ensures seamless shipping of various components to different parts of the world.
CMIGS Reviews and Ratings
When it comes to Reviews and Ratings, CMIGS has a:
- BBB – A+ rating and no complaints
- BCA – B rating, no reviews
- Yelp – 5/5 rating with two reviews
CMI stands out remarkably as a company with a clean slate – no grievances or legal actions from either the US Government or customers. In fact, glowing customer reviews highlight the efficiency and top-notch service provided by CMI. However, the review and ratings are comes froms old customers and no recent feedback.
What I Like About CMIGS
The company has a lot of good reviews! So, people who have tried their services are satisfied!
That's a very important aspect when it comes to investing!
No Minimum Orders
CMI currently has no minimum orders for gold and silver bullion purchases.
At times, limited quantities of gold and silver products are available on their Gold Specials page and their Silver Specials page.
They Buy Gold and Silver
If you are interested in selling gold or silver, visit their page dedicated to selling gold and silver to CMI. CMI Gold & Silver Inc. is the nation’s oldest bullion dealer.
They stand ready to buy most gold, silver, platinum, and palladium bullion products. Much the same as buying (payment must be remitted same day), the product must be shipped to us the same day.
Client Confidentiality
CMI strives to ensure client confidentiality. Consequently, they do not put clients’ names on invoices, thereby providing even more investment privacy and protecting them from record theft. This became policy in the mid-1970s as CMI pioneered the bullion precious metals industry in Phoenix, AZ.
At CMI, they recognize the importance of keeping precious metals transactions as private as possible; therefore, we require no account set-up, no 8-page account agreement to sign, and no credit card or social security numbers to secure your trades.
What I Don't Like About CMIGS
Limited Payment Options
PAYMENT BY CHECK
CMI accepts payment by check, either personal, company, or cashier’s check.
For check payments less than $25,000, it will be 5 business days before the product is released for shipment. For checks greater than $25,000, it will be 10 business days before the product is released for shipment.
PAYMENT BY BANK WIRE TRANSFER
Payment by bank wire transfer means that your order can be shipped generally within 24 to 48 hours.
Lacks of recent ratings and Review
It is shows that the company has limited feedback.
Are CMIGS a Scam?
With all its good reviews, CMI Gold & Silver is NOT A SCAM.
They can be trusted and you can rely on them with your investments.
However, they do not really offer IRA Services for you or your retirement funds.
If so, I will go to a much better company to get the investment I need!
Final Thoughts
For this kind of situation, I would definitely recommend GOLDCO.
GOLDCO is known to be the leader in the precious metals industry, with over a decade of experience helping customers protect their retirement savings.
If you have an IRA, 401(k), 403(b), TSP, savings, or similar tax-advantaged retirement account, a Goldco Specialist can help you protect those assets with a Precious Metals IRA.
Get to know more about them by clicking below!